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National Flour Mills Q1 profit climbs YOY

National Flour Mills Ltd. said its first-quarter normalized net income came to TT$7.1 million, a rise from TT$1.4 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 5.8% from 1.4% in the year-earlier period.

Total revenue rose 21.0% on an annual basis to TT$121.5 million from TT$100.4 million, and total operating expenses grew 13.8% from the prior-year period to TT$109.4 million from TT$96.1 million.

Reported net income rose from the prior-year period to TT$9.0 million, or 7 cents per share, from TT$1.3 million.

As of May 4, US$1 was equivalent to TT$6.35.